Capital markets and financial institutions are all around us. This is an enormous industry in which powerful players oftentimes challenge investors and the public at large and expose them to significant risks.
This Course provides for the deep understanding of the core ideas, concepts, and mechanisms of the modern capital market in a learner-friendly way. We will analyze the market’s most fundamental problems, realize the intrinsic interests of the market participants, reveal the true meaning of certain financial terms, and uncover credible signals of the likely behavior of economic agents – all that with little math and a lot of fun.
The learners will be much better positioned with respect to the financial environment. They will see through the financial news, reveal the risks of the financiers’ wishful thinking promises, and protect themselves against dangerous adventures. The learners will get the opportunity to use the obtained knowledge, skills, and understanding for the successful professional career in the financial and other business areas, as well as in their day-to-day life.

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Public Investments and Investment Banking

Week 5 of the Course is devoted to public investments and investment banking. We consider the major activities of investment banks – underwriting, trading, consulting, and financial innovation. We study the details of underwriting and the core reasons for underpricing as an important phenomenon that determines the observed behavior of market participants in the process of financing.
We also discuss the mechanism of market bubbles and crises as well as the role of investment banks and other financial institutions in the crisis development. That sets the background for the idea of regulation of investment banks.